Kaman subsidiary acquires Industrial Supply Corporation
Kaman Industrial Technologies Corporation recently completed its acquisition of Richmond, VA-based Industrial Supply Corporation
Kaman Corporation recently announced that its subsidiary, Kaman Industrial Technologies Corporation , completed its acquisition of Industrial Supply Corporation of Richmond, VA, on March 31. ISC is now a wholly owned subsidiary of KIT.
Founded in 1933, ISC is a distributor of power transmission, fluid power, material handling and industrial MRO supply products to the machinery, electronics, pharmaceutical, rubber, chemicals and food processing markets, among others. In addition to its Richmond facility, ISC has branches located in Norfolk, Roanoke and Waynesboro, VA, and in Wilson and High Point, NC. It has annual sales of approximately $55 million.
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Annual Salary Survey
In a year when manufacturing continued to lead the economic rebound, it makes sense that plant manager bonuses rebounded. Plant Engineering’s annual Salary Survey shows both wages and bonuses rose in 2012 after a retreat the year before.
Average salary across all job titles for plant floor management rose 3.5% to $95,446, and bonus compensation jumped to $15,162, a 4.2% increase from the 2010 level and double the 2011 total, which showed a sharp drop in bonus.